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Daily (07.12.2022): Brent ended below $80 per barrel for the second time in 2022 amid ongoing economic jitters
Crude oil prices fell sharply on Tuesday amid concerns about an uncertain economy. Hence, Brent crude shed by 4% to settle at $79.35 a barrel, its largest daily decline since late September. Meanwhile, U.S. WTI crude dropped by 3.5%, to settle at $74.25 a barrel, their lowest settlement this year.
read more... 07/12/2022
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EU struggles to agree gas price cap, considers 220-euro limit
European Union countries on Tuesday considered the latest proposal for a lower gas price cap of 220 euros ($231), a week away from a meeting when the bloc hopes to resolve an issue that has deeply divided the 27 member states.
read more... 07/12/2022
Bulgaria imposes 33 per cent windfall tax on oil, gas and coal companies
Bulgaria's parliament approved on Tuesday a temporary windfall tax of 33% on oil, gas and coal companies, implementing a European Union-wide agreement on the issue.
read more... 07/12/2022
Italy Expects To Raise $4.2 Billion From Windfall Tax And Power Price Cap
The Italian government expects to raise around $4.2 billion (4 billion euros) from a new windfall tax on energy companies and a price cap on the electricity produced by coal, fuel oil, or renewable power generation, officials at the central bank, Bank of Italy, said on Monday.
read more... 07/12/2022
Daily (06.12.2022): Oil prices dropped to their lowest levels since January amid OPEC decision to hold steady oil output
Crude oil prices dropped to the lowest level since January following OPEC’s decision not to cut production any further. Moreover, stronger-than-expected US economic data fuelled speculation that the Federal Reserve would keep its policy tight to fight inflation. Hence, Brent crude decreased by $2.89, or 3.4%%, to settle at $82.68 a barrel. WTI crude fell by $3.05, or 3.8%, to end at $76.93 a barrel.
read more... 06/12/2022